We believe everybody
deserves to enjoy life,
whatever their age
Understanding the payment fees
Occupation Right Agreement, Licence to Occupy, Outgoings Charge… when it comes to moving to a retirement village, all the legal terms can sometimes make it seem very confusing, but really it’s not.
When you ‘purchase’ an Enliven retirement villa/apartment you sign an Occupation Right Agreement (ORA) and make an Entry Payment. By signing the ORA you have a licence to occupy (LTO) the apartment for as long as you wish.
When you leave your Enliven retirement villa or apartment, and a new resident is ready to move in, we give you back your Entry Payment less a certain percentage depending on how long you have lived in your apartment. That percentage is called the Village Contribution.
The Village Contribution is a payment that is deferred until you leave your retirement villa/apartment. The payment covers the cost of property maintenance, refurbishment and selling your apartment, meaning you and your family don’t have the stress and hassle.
Enliven guarantees the Village Contribution will never be more than 25 per cent of your Entry Payment, regardless of how many years you have lived there. The Village Contribution is calculated as five per cent of the Entry Payment on the commencement date of the Occupational Right Agreement, plus four per cent each year for up to five years.
Residents at Enliven’s Retirement Villages and Apartments pay a monthly fee (called an Outgoings Charge) to cover costs such as rates, water, security, property maintenance and gardening, building insurance, rubbish removal and other operating costs.